HYF Technologies


7 Ways To Know Your Online Customers Better

If you’re relying only on basic profile information and purchase history, you probably don’t. According to a new study, marketers at 80 percent of brands lack customer data to drive effective marketing campaigns.

The study found that 86 per cent of respondents thought improved customer data would allow them to better perform segmentation, meaning that the majority of brands are missing out on the opportunity to build stronger, longer-lasting customer relationships.

We are providing a list of ways how you can know your online customers better.
1. Maintain customer lifecycle.

A customer lifecycle is the length and nature of a customer’s relationship with a particular brand or company. For marketers, the goal should be to make the customer’s lifecycle as long and prosperous as possible. That means maintaining and continuously improving the continuum by taking customers on a journey that’s mutually beneficial for both the customer and marketer. Maintaining the cycle involves acquiring the customers, retaining their interest in the brand, and extending the relationship beyond a single purchase.

2. Look past the purchases.

Less than a quarter of marketers are using channel-preference data, propensity scores or household composition. These three often-overlooked pieces of information will reap results, both because of their inherent value and because your competitors likely aren’t considering the information.

3. Use all available data.

There are a plethora of information marketers simply do not have access to when crafting customer communications — behavioral data, Web analytics, online/offline profitability, etc. It’s impossible to account for something you don’t know exists, which seems to be one of the main issues for marketers: a lack of access to an overwhelming amount of customer profile data.

4. Think like a big business.

Small businesses should think like large businesses, then actively using the tools available to them. Small and medium businesses actually have an advantage when acting on insights and reacting to market trends. For large businesses, it’s often a challenge to present data and propose ideas in a way that resonates with senior leaders. 

5. See what’s right in front of you.

While it’s important to append existing data and obtain the complete profile of your customer as possible, don’t ignore information that’s right under your nose. Seven out of 10 marketers ignore social data. With Facebook analytics and other free tools available, there’s no reason to overlook insights into how consumers interact with your brand. Loyalty cards, social media interaction and surveys can be great ways to obtain the insights you need.

6. Identify and act on customer triggers.

Go to your customers; don’t wait for them to come to you. Half of all marketers act on request-based, inbound triggers. Identify your most important customers, but don’t forget to determine the most valuable time to reach them within their lives and purchase cycles.

7. Challenge assumptions.

This is as much a business philosophy as a marketing tactic. Don’t assume that methods and practices that have worked well for the past year will work in the future. Consistently reframe your existing data and insights to make sure you have the best available data.